Past version: effective from 03/01/2010 - 27/04/2011
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(1) In GEN Rule 2.2.2 Advising on financial products or credit means giving advice to a
(a) in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor on the merits of his buying, selling, holding, subscribing for or underwriting a particular financial product (whether as principal or agent); or
(b) in his capacity as a borrower or potential borrower or as agent for a borrower or potential borrower on the merits of his entering into a particular
(2) Advice in (1)(a) and (b) includes a statement, opinion or report:
(a) where the intention is to influence a
Person, in making a decision, to select a particular financial product or an interest in a particular financial product or to enter into a particular Credit Facility; or
(b) which could reasonably be regarded as being intended to have such an influence.
(3) For the purposes of this
Rule and GEN Rule 2.11.2 a financial product is an Investment or rights under a contract of Long-Term Insurance, not being a contract of reinsurance.